INDIAN MARKET REVIEW
Week Ended March 4th
by Ashok Thakwani
March 5, 2006

This week saw the markets ending with huge gains. The benchmark BSE Sensitive Index (Sensex) closed at a new all-time high of 10,595.43, showing a gain of 394.67 points for the week. The rise was powered by Automobiles, Cement, Steel, Engineering and Capital Goods stocks. With this, the index is up almost 13% for the year to date.

BSE - SENSEX
(999991)
Data for 03/03/2006

Exp Trend	N/A
999991
Open	10,214.58
High	10,706.22
Low	10,109.34
Close	10,595.43
Volume	98,654,016
Open Int.	0
Price Chg.	394.67

HIND LEVER
(696)
Data for 03/03/2006

Exp Trend	N/A
696
Open	243.000
High	248.800
Low	234.100
Close	244.100
Volume	5,762,704
Open Int.	0
Price Chg.	1.950

Hindustan Lever – Long term stock pick

Hindustan Lever, which is the Indian subsidiary of Unilever, is our long-term buy at current levels of Rs 244 (one US dollar = 44.21 rupees). We have a two-year price target of Rs 465 on this stock and is strongly recommended as a core holding of any portfolio. Though this stock has been an underperformer for last five years, we believe that this situation has changed for the better as indicated in the attached chart.

Recommendation Performance
Stock	Sector	Holding period	Date of Recommendation	Target price	Current price	% Change Since Recommendation	Remarks if any	Position
Hindustan Lever	FMCG	18-24 months	4.3.2006	465	244	0	Buy	Open

Tata Steel	Steel	1-2 months	4.3.2006	520-530	454.35	0	Buy	Open

Bharat Forge	Auto Ancilliary	1-2 months	4.3.2006	490-495	434	0	Buy	Open

Bharati Televentures	Telecom	1-2 months	4.3.2006	455-564	408.45	0	Buy	Open

India Cement	Cement	2-3 months	4.3.2006	185-190	152.7	0	Buy	Open

Century Textiles	Cement textiles	2-3 months	4.3.2006	415-420	386.95	0	Buy	Open

Jindal Saw	Speciality pipes	2-3 months	4.3.2006	530-535	463.35	0	Buy	Open

Asahi india Safety Glass	Automotive glass	2-3 months	4.3.2006	140-145	117.45	0	Buy	Open

Jindal Steel and Power	Steel	2-3 months	4.3.2006	2000-2050	1701.8	0	Buy	Open

BSE Sensitive Index	Index	3 months	4.3.2006	12500	10595.43	0

CONTACT INFORMATION
Ashok Thakwani
West Bengal, India
Email

The opinions of FSU contributors do not necessarily reflect those of Financial Sense.

BSE - SENSEX (999991) Data for 03/03/2006

HIND LEVER (696) Data for 03/03/2006

Hindustan Lever – Long term stock pick

BSE - SENSEX
(999991)
Data for 03/03/2006

HIND LEVER
(696)
Data for 03/03/2006